Due to the sluggish demand in the Vietnamese domestic market and many low import sources from China and South Korea, many steelmakers in Vietnam have stopped or reduced production these days.
Vietnam Formosa Ha Tinh Steel Corporation (FHS) has decided to cut production gradually due to low demand from the USA and Europe.
He initially announced the production cut of 15% to stabilize the domestic price. He also stated that he will announce his new prices for December before 15 November.
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